Example 1. You spend $200 for a business-related meal. If $110 of that amount is not allowable because it is lavish and extravagant, the remaining $90 is subject to the 50% limit. Your deduction cannot be more than $45 (50% Ã $90).
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He is a great admirer of the GAA â âthe best organisation in the worldâ. His abiding memory of the 1978 All-Ireland Football Final was Mike Sheehy scored his famous goal into an empty Dublin net as the Dublin goalkeeper was arguing the merits of the free awarded to Kerry with the referee.